Principles of social cost-benefit analysis of public road projects followed in South Africa
| dc.contributor.author | Pienaar, W. J. | en_ZA |
| dc.date.accessioned | 2018-12-14T09:15:49Z | |
| dc.date.available | 2018-12-14T09:15:49Z | |
| dc.date.issued | 2018 -10 -12 | |
| dc.description | CITATION: Pienaar, W. J. 2018. Principles of social cost-benefit analysis of public road projects followed in South Africa. South African Journal of Industrial Engineering, 29(4):129-140, doi:10.7166/29-4-1926. | |
| dc.description | The original publication is available at http://sajie.journals.ac.za | |
| dc.description.abstract | ENGLISH ABSTRACT: This article discusses the most pertinent principles that underlie the preferred social cost-benefit analysis methodology to evaluate public road projects in South Africa. The ‘cost’ component of the analysis is the once-off investment cost sacrificed to establish a facility, and the ‘benefit’ component is the recurring reduction of disutility emanating from the operation, maintenance, and use of a facility. To determine future road-user benefits, the article develops a social surplus criterion that is termed ‘socio-economic user surplus’. A procedure is provided of the way that social cost-benefit analysis should be supplemented by the application of equity weighting, with a view to indicating both the expected allocative efficiency and distributive efficiency of a proposed road project. Lastly, the article discusses why the economic impacts that may stem from economically justified road projects are not considered in a social cost-benefit analysis. | en_ZA |
| dc.description.uri | http://sajie.journals.ac.za/pub/article/view/1926 | |
| dc.description.version | Publisher's version | |
| dc.format.extent | 12 pages | en_ZA |
| dc.identifier.citation | Pienaar, W. J. 2018. Principles of social cost-benefit analysis of public road projects followed in South Africa. South African Journal of Industrial Engineering, 29(4):129-140, doi:10.7166/29-4-1926 | |
| dc.identifier.issn | 2224-7890 (online) | |
| dc.identifier.issn | 1012-277X (print) | |
| dc.identifier.other | doi:10.7166/29-4-1926 | |
| dc.identifier.uri | http://hdl.handle.net/10019.1/105275 | |
| dc.language.iso | en_ZA | en_ZA |
| dc.publisher | Southern African Institute for Industrial Engineering | en_ZA |
| dc.rights.holder | Author retains copyright | en_ZA |
| dc.subject | Economic evaluation | en_ZA |
| dc.subject | Roads -- Construction | en_ZA |
| dc.subject | Costs, Social | en_ZA |
| dc.title | Principles of social cost-benefit analysis of public road projects followed in South Africa | en_ZA |
| dc.type | Article | en_ZA |